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All news, insights and events

Spanish battery consortium unveiled to accelerate green economic recovery

Today, major Spanish industrial companies announce Battchain, a consortium formed to respond to increasing demand for batteries. Battchain aims to accelerate Europe’s green economic recovery by expanding Spain’s battery value chain across raw materials extracting through battery recycling.

Seeking investment of €1.2 billion

The consortium will seek investment of €1.2 billion to deploy its industrial projects mainly across Spain’s automotive sector. More than 1,700 direct and 12,000 indirect jobs will be created as a result of these projects, with turnover expected to reach €2.4 billion in 2030. Critically, through successful project delivery, Battchain will eliminate 1.5 million tons of CO2 emissions annually.

The consortium

Led by the world’s largest sustainable energy accelerator, EIT InnoEnergy, Battchain brings together leading energy and industrial players Extremadura Mining, Ente Vasco de la Energia, CIC EnergiGUNE, Fagor Ederlan, Ingeteam, SODENA, Scoobic and BeePlanet Factory. Projects in the consortium include the lithium extraction and refining of 15,000 annual tonnes of lithium hydroxide, a 10GWh solid state cell factory, a 120,000 pack annual capacity battery pack assembly plant, an assembly factory for up to 20,000 last mile electric vehicles and a battery collection, recycling and second life plant.

Read the full press release in English, here.

Read the full press release in Spanish, here.